USD/JPY displays a bearish bias. The primary support at 149.20, coinciding with the 61.80% Fibonacci Projection, offers a crucial buying zone. 2nd support at 148.40 reinforces this level.
Conversely, the initial resistance at 150.53, alongside the 61.80% Fibonacci Retracement, could act as a barrier to price increases, initiating a bearish response. Additionally, the 2nd resistance at 151.71 presents another key obstacle. The overall outlook anticipates a bearish reaction from the initial resistance, targeting the primary support level.
